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the debt ceiling falls in that category. but that doesn't mean there is not an opportunity to discuss what is causes the debt ceiling to go up. well, why do you have to increase the debt ceiling? the government is spending more money than it should, like a household that is spending more money than it should, sometime you are going to have to pay the piper for the actions. there is a reason to discuss the debt ceiling. >> thank you so much for joining me. >> thank you. >>> joining me, barney frank, senator, am i wrong in that that is absolutely the norm throughout the entire 20th and 21st century that nine years out of ten, probably, that has been the case about the federal government? >> well, a couple of things, first of all i think you make a very good friend. i sympathize with my friend, former senator greg. he is a responsible man, the last time we faced a crisis it was totally bipartisan. when the democrats were in control, it was 2008, george bush came to us, greg and i were two people that came across the divide to g
the debt ceiling falls in that category. but that doesn't mean there is not an opportunity to discuss what is causes the debt ceiling to go up. well, why do you have to increase the debt ceiling? the government is spending more money than it should, like a household that is spending more money than it should, sometime you are going to have to pay the piper for the actions. there is a reason to discuss the debt ceiling. >> thank you so much for joining me. >> thank you. >>>...
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Jan 14, 2013
01/13
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they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the deficit, america cannot afford another debate with this congress about whether or not they should pay the bills they have racked up. what i will not do is to have that negotiation with gun at the head of the people. >> dana: interesting choice of words to describe that. eric, you talked about not wanting the country to lurch from crisis to crisis. most americans would agree and want washington to fix fundamental problems. why do we have to have the debate every three months? >> eric: sure. start with the debt ceiling and how it came about. prior to world war i, everybody was paid
they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the...
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Jan 15, 2013
01/13
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there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a baland approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for this. gerri: use a dollar for dollar doesn't work. >> it will not stop the debt from growing as a percent of gdp because the gap is too large. >> i'm not saying it will balance the budget. we have to start the conversation, this is a good place to start making inroads. that is when republicans really have to draw the line in the sand. gerri: you were saying, which i thought was interesting, somewhat at odds with the conservative pundits that has to be some negotiation, give or take on both sides. >> what i said was any increase in taxes on income that wou
there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a baland approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for...
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Sep 19, 2013
09/13
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ceiling or the threat of not raising the debt ceiling being used to extort a president or a governing party. >> that statement got four pinocchios in today's "the wall street journal." but this is a president negotiating with assad through putin. he's a penpal of iran's new president. but he's not going to sit down and negotiate with republicans on the debt and the deficit? isn't that his job? is he serious? >> the republicans have made it abundantly clear that a part of that negotiation would be to defund the affordable care act. and also they want the type of cuts in the deficit -- in the budget that really will kill everything that the president stands for. if only as we see this modest increase in unemployment, the wealthy are making so much money. the disparity between the poor and the middle class, which is the heart of our great nation, is falling into poverty. we need to have the government to participate with the private sector to get our great country back to work. but when you talk about cut further than the sequestration and to defund, that's not negotiation. that's puttin
ceiling or the threat of not raising the debt ceiling being used to extort a president or a governing party. >> that statement got four pinocchios in today's "the wall street journal." but this is a president negotiating with assad through putin. he's a penpal of iran's new president. but he's not going to sit down and negotiate with republicans on the debt and the deficit? isn't that his job? is he serious? >> the republicans have made it abundantly clear that a part of...
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Oct 9, 2013
10/13
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echo -- debt ceiling? is wrong with postponing the obama law? quit acting like kindergartners. sit down and hash it out. he is just asking for you to implement the law. republican states are fighting it. sit down and hash it out. they postponed laws all the time. scott inhear from pennsylvania, republican line. >> good morning, sir, how are you? host: good morning. noter: i honestly do believe -- i think our freedom of choice has been taken away from us. i think that president obama needs to sit down and discuss this and really think about what he is doing to people. i make $630 a month on unemployment. after i pay my car insurance and fill my vehicle with gas, it costs me $90 to fill my vehicle with gas because that is the vehicle i can afford. he thinks that this health care is affordable to me? i do not think so. i am not the only one, there are more out there like that. that is all i have to say, thank you for your time. >> that was scott, from pennsylvania. this is the democratic line, delbert. caller
echo -- debt ceiling? is wrong with postponing the obama law? quit acting like kindergartners. sit down and hash it out. he is just asking for you to implement the law. republican states are fighting it. sit down and hash it out. they postponed laws all the time. scott inhear from pennsylvania, republican line. >> good morning, sir, how are you? host: good morning. noter: i honestly do believe -- i think our freedom of choice has been taken away from us. i think that president obama needs...
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limit now let me just give you a little bit of a refresher on the debt ceilings the debt ceiling has actually been raised eleven times since two thousand and one it usually is raised without very much has it taken a problem but we have seen a lot more pushback with the debt ceiling in recent years ever since president obama took office now this. package that the g.o.p. is promising will raise the federal debt limit for just a temporary period for just about three months but there's a stipulation in the simulation is that they want the senate to come upon a budget agreement and a budget agreement hasn't actually been agreed upon for four years so they want the senate and the house to come together to each propose a budget for the upcoming year and then to come up with a compromise with the final proposal now obviously democrats are really pushing back on this issue saying that first of all that three month extension of the debt ceiling is certainly not enough i mean we've already. seen so much happened in this past year really the debt ceiling was supposed to be we were supposed to go
limit now let me just give you a little bit of a refresher on the debt ceilings the debt ceiling has actually been raised eleven times since two thousand and one it usually is raised without very much has it taken a problem but we have seen a lot more pushback with the debt ceiling in recent years ever since president obama took office now this. package that the g.o.p. is promising will raise the federal debt limit for just a temporary period for just about three months but there's a...
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Jan 5, 2013
01/13
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look into your crystal ball. >> i don't know, we shouldn't have the debt ceiling. the government should pay the bills that the congress has voted to pay, right? we don't need that. in my world, i think i would advise the president to just ignore the debt ceiling. go ahead, paying the government's bills while trying to negotiate a deal for the longer run deficit reduction. but, the president is a constitutional lawyer. he is more worried, i think that he might do something illegal, and he is not likely to defy the courts. >> no more debt ceiling, i like the sound of that, alice rivlin, thank you for joining us. >> thank you. >> coming up, if you thought john boehner's idea was the absolute worse, we now have numbers to back up your case.. >>> just how terrible was the 112th congress? it was the worst, so bad, i'll show you why, by the numbers next. and there was one person who works in the white house who deserves a bit more credit than he gets. i'll have more coming up. [ male announcer ] the more you lose, the more you lose because for every 2 pounds you lose thro
look into your crystal ball. >> i don't know, we shouldn't have the debt ceiling. the government should pay the bills that the congress has voted to pay, right? we don't need that. in my world, i think i would advise the president to just ignore the debt ceiling. go ahead, paying the government's bills while trying to negotiate a deal for the longer run deficit reduction. but, the president is a constitutional lawyer. he is more worried, i think that he might do something illegal, and he...
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Jan 14, 2013
01/13
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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debt ceiling was supposed to be we were supposed to go beyond the debt ceiling back in december but timothy geithner and acted these extraordinary measures to kind of push it as far as it could really pinching pennies from the u.s. economy and we're really seeing now is that everyone is projecting that we are going to run out of money money you know the term that we use for that money that we don't have right now it's a kind of two we can only push until the end of february early march so obviously something really needs to happen right now in terms of the debt ceiling and mind you i just need to remind you one more point and that is really that there are the debt ceiling and the raising the debt ceiling is already for money that they've already planned on spending in the first place so the debts. and raising it isn't for future projects or for future legislation for things that they've already agreed upon so it's just really saying yes to the things that we want to break you know when it comes to the economy or i guess when it comes to pretty much everything and congress doesn't se
debt ceiling was supposed to be we were supposed to go beyond the debt ceiling back in december but timothy geithner and acted these extraordinary measures to kind of push it as far as it could really pinching pennies from the u.s. economy and we're really seeing now is that everyone is projecting that we are going to run out of money money you know the term that we use for that money that we don't have right now it's a kind of two we can only push until the end of february early march so...
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Jan 5, 2013
01/13
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we told you how republicans are out about the way the debt ceiling works. today we saw the next phase of their misinformation campaign. tea party ron johnson went on msnbc this morning and hammered the president when it comes to spending cuts. >> president obama and the democrats have no intention. as a result, they have no plan to reduce the deficit, to reduce government's control in our lives. this isn't going to go away. we're not going to solve this thing, unfortunately, because president obama has no intention of solving it. hasn't given us a plan. this is going to go on time and time and time again. >> all right. let's be clear what republicans are talking about when they say spending cuts. they want major cuts to the big three, medicare, medicaid and social security. if overall spending was the issue, there wouldn't be a problem. president obama already signed the 2011 budget control act, which included $1.7 trillion in government spending cuts. in reality, the best plan to reduce the deficit comesro
we told you how republicans are out about the way the debt ceiling works. today we saw the next phase of their misinformation campaign. tea party ron johnson went on msnbc this morning and hammered the president when it comes to spending cuts. >> president obama and the democrats have no intention. as a result, they have no plan to reduce the deficit, to reduce government's control in our lives. this isn't going to go away. we're not going to solve this thing, unfortunately, because...
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Jan 16, 2013
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susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups who are saying we shouldn't pick a fight when it comes to the debt ceiling. maybe it's better to pick a fight over shutting the government down rather than risking the default of the government when it comes to raising the debt ceiling. this is a significant development. it shows a lot of people thought we were looking ahead to the debt ceiling and the republicans had a lot more leverage. that can call it into question. >> that are sounds like the president describes. i use the word lurching to the next crisis ahead. it was the fiscal cliff and then it wa
susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups...
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Oct 10, 2013
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you want long-term debt ceiling proposal. they want to hold it a little bit over your head to get structural changes, but other than that -- >> look. the glimmer of good news in the republican proposal is that they have recognized that it's bad idea to default on our obligations. >> i think a lot of them have been saying that all along. >> you've got to admit there are a lot of republicans out there that say it's not so bad to go into this default scenario because they really think it's been exaggerated when think most people recognize it would be a real problem. >> i think what many of those republicans -- they're talking about the fact that, you know, we have this sort of scenario more often than we want to. we had it in august of 2011. we couldn't pay our bills and we had to raise it. and we couldn't pay it again and at some point you implode. i think ha what they're try dog is get them to come to the table to make long-term changes so we don't have these crises. >> we've been trying to come to the table since march. in ma
you want long-term debt ceiling proposal. they want to hold it a little bit over your head to get structural changes, but other than that -- >> look. the glimmer of good news in the republican proposal is that they have recognized that it's bad idea to default on our obligations. >> i think a lot of them have been saying that all along. >> you've got to admit there are a lot of republicans out there that say it's not so bad to go into this default scenario because they really...
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debt ceiling. that was really sort of the main issue here today, right? >> because the 17th is the deadline, right. >> and the budget has to do with the shutdown. >> no, no. the shutdown is a continuing resolution. >> but the continuing resolution is because we don't have a budget. >> true. >> that's why we have a c.r. >> we finally got them to write it. >> but you said -- >> everybody points back and forth. >> lots of that. >> paul ryan, our budget chair, will sit down. patty murray will start putting it together. remember, in the senate, their budget never balances. ours balances in ten years. they raise a trillion dollars in new taxes, so we're going to have a lot of arguments as we go through there, but we want to move it through. now, when it comes to the continuing resolution, that's still there. that's what we'll continue to discuss with the president to try to move forward on. >> from what i understand, the debt ceiling is to keat the debt raised until november 22nd, is that the deal? is that wrong? >> november 20th. >> sorry. two days off. >> wel
debt ceiling. that was really sort of the main issue here today, right? >> because the 17th is the deadline, right. >> and the budget has to do with the shutdown. >> no, no. the shutdown is a continuing resolution. >> but the continuing resolution is because we don't have a budget. >> true. >> that's why we have a c.r. >> we finally got them to write it. >> but you said -- >> everybody points back and forth. >> lots of that. >>...
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debt ceiling denies needed dose of debt ceiling reality and you have given them that today. you have said or i think in just about these words you said prioritization is default by another name and prioritization is extremely difficult as you said. do we pay foreign debts or veterans benefits? do we make sure social security benefits go out or pay medicare. do we pay for education. american people don't want that. they would want to pass a clean debt ceiling bill and avoid those awful choices but i would like to talk about the other -- one of the debt ceiling deniers i read in the new york times, congressman brown, also said much of what he learned in medical school where lies the came from in his words the pits of hell. if we a people and -- letting people like this beat us, god save america. i would like to deal with the second issue. which is the timing. in my view we are like a blindfolded man walking towards a cliff and if we keep walking in that direction, very soon we will fall off. we may fall off on october 16th, we may fall off on october 17th, we may fall on oct.
debt ceiling denies needed dose of debt ceiling reality and you have given them that today. you have said or i think in just about these words you said prioritization is default by another name and prioritization is extremely difficult as you said. do we pay foreign debts or veterans benefits? do we make sure social security benefits go out or pay medicare. do we pay for education. american people don't want that. they would want to pass a clean debt ceiling bill and avoid those awful choices...
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Oct 14, 2013
10/13
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they did push hard on the debt ceiling. what was different about 2011 compared to now is that republicans then were only fighting on the debt ceiling. there wasn't this combination of a government shutdown with a debt ceiling shutdown. and i think that combination has confused the republican message in many ways and given them less of a chance to really get a concession out of the democratic party. >> amity, coolidge-like and reagan-like and clinton-like, i want to maintain the spending reductions, the sequestration. i might want to change it a lbt, as senator susan collins did, give a little more to military and a little less somewhere else. but i think that's a singular republican achievement in the past two years, bring spending way down. i think that's helped the economy. what's your take on that? >> there is a charm to budgeting. there is an art to it. that's what we look at in the '20s and in other periods, even in the periods with reagan. and it's worth our time. that's the main thing. what the voters are saying when
they did push hard on the debt ceiling. what was different about 2011 compared to now is that republicans then were only fighting on the debt ceiling. there wasn't this combination of a government shutdown with a debt ceiling shutdown. and i think that combination has confused the republican message in many ways and given them less of a chance to really get a concession out of the democratic party. >> amity, coolidge-like and reagan-like and clinton-like, i want to maintain the spending...
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you know, the debt ceiling talks and risk involved. that will affect americans, right now just, i'm angry at washington. that is what the average american is feeling but if this drags oapproach a debt ceiling or lack of to us pay our bills, we then have a problem for now stick to the facts that should be avoiding. shut dn the hopefully be resolved soon. neil: thank you very much. looks like house is in session, they are yammering about something, does not matter, they something, does not matter, they would yammer any last requests mr. baldwin? do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red button on top. ♪ how did he not see that coming? what's in your wallet? >> now to richard edson something is going on in
you know, the debt ceiling talks and risk involved. that will affect americans, right now just, i'm angry at washington. that is what the average american is feeling but if this drags oapproach a debt ceiling or lack of to us pay our bills, we then have a problem for now stick to the facts that should be avoiding. shut dn the hopefully be resolved soon. neil: thank you very much. looks like house is in session, they are yammering about something, does not matter, they something, does not...
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you know, the debt ceiling talks and risk involved. that will affect americans, right now just, i'm angry at washington. that is what the average american is feeling but if this drags oapproach a debt ceiling or lack of to us pay our bills, we then have a problem for now stick to the facts that should be avoiding. shut down the hopefully be resolved soon. neil: thank you very much. looks like house is in session, they are yammering about something, does not matter, they would yammer anyway. for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right ther
you know, the debt ceiling talks and risk involved. that will affect americans, right now just, i'm angry at washington. that is what the average american is feeling but if this drags oapproach a debt ceiling or lack of to us pay our bills, we then have a problem for now stick to the facts that should be avoiding. shut down the hopefully be resolved soon. neil: thank you very much. looks like house is in session, they are yammering about something, does not matter, they would yammer anyway. for...
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Oct 15, 2013
10/13
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hitting the debt ceiling would be bad. getting close to the debt ceiling is bad, too. are we close enough already to start worrying about the damage? joining us now is senator sheldon whitehouse of rhode island, a member of the senate budget committee. senator whitehouse, thank you so much for being with us. >> very happy to be with you. >> growing up, my dad always told me close only counts in horseshoes and hend grenades. >> this is the hand grenade version of that. >> oh, i was going to ask, does close also count in debt ceilings? are we already in dangerous territory? >> yeah, it absolutely does. there are two consequences of a default from not raising the debt ceiling. one is if you actually don't do it, and then markets and interest rates adjust in probably unimaginably bad ways. but even when you get close, other countries, bankers, people buying treasury securities look around and think this security doesn't seem quite as secure as it used to. i think i'm going to have to charge a little bit more in order to come in and be a buyer. and because we pay the intere
hitting the debt ceiling would be bad. getting close to the debt ceiling is bad, too. are we close enough already to start worrying about the damage? joining us now is senator sheldon whitehouse of rhode island, a member of the senate budget committee. senator whitehouse, thank you so much for being with us. >> very happy to be with you. >> growing up, my dad always told me close only counts in horseshoes and hend grenades. >> this is the hand grenade version of that. >>...
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ceiling is important well i happen to think the debt ceiling is a good thing a lot of people don't think we should have a debt ceiling in this country i happen to think because it keeps a lid on expenses it keeps a lid on borrowing money we're borrowing trillions of dollars from china and other people that don't even like us ok this china is not our friend just in case you have any questions at all that you think they already would but look they're hardened. people leaders that are not looking to do good for us to look in to do good for themselves and that's ok for their country or for themselves i'm not sure which one probably a little bit of both but china and other countries and lots of other people we have a tremendous debt with seventeen trillion dollars a number that was unthinkable you do have a debt ceiling because they don't want to go above a certain amount now the thing should have been looked at in all fairness during the bush administration and certainly during the obama administration because it's going through the roof and i am a fan of the debt ceiling i think you do want
ceiling is important well i happen to think the debt ceiling is a good thing a lot of people don't think we should have a debt ceiling in this country i happen to think because it keeps a lid on expenses it keeps a lid on borrowing money we're borrowing trillions of dollars from china and other people that don't even like us ok this china is not our friend just in case you have any questions at all that you think they already would but look they're hardened. people leaders that are not looking...
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what does this mean for the debt ceiling? how much noise will there be does it do intermediate dage that is frail to begin with? those are the questions investors face. gerri: in addis boehner is headed to the lectern he said sometng that is news breaking we welcome back and the you know, but looking at the list of things that will be cut and it just doesn't sound that important to especially if you consider that service members it is one idea both the house in the senate can sign onto. is cutting government that bad of idea? >> it is never a good a deal because we rely on foreigners to invest in one of the reasons why our interest rates are so low apart from the fed of course, that the chinese are big buyers of the bond and the dysfunction in washington makes us look like we are italy. it drives to the confidence factornd if the politicians keep this up there lapierre of fairly day minimus app economic event even if only two or three days. gerri: i don't fade we will be mistaken for greece for other countries but is a shot d
what does this mean for the debt ceiling? how much noise will there be does it do intermediate dage that is frail to begin with? those are the questions investors face. gerri: in addis boehner is headed to the lectern he said sometng that is news breaking we welcome back and the you know, but looking at the list of things that will be cut and it just doesn't sound that important to especially if you consider that service members it is one idea both the house in the senate can sign onto. is...
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Jan 20, 2013
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so what the debt ceiling is all about. basically congress has not done and congress and president has not done anything. i am not talking about anything. over the next 75 years, 70% of deficit spending is going to come from medicare programs alone, social security and medicare are the biggest part of the debt. the reason they are known as third rail of politics because if you touch them you are committing political suicide. george bush tried it and he was shut down. no lawmakers want to cut into medicare and social security because they would basically get voted out of office. that is what is interesting about this poll basically. you have all these americans and government spending is you on will krof, what we need to do is deal with entitlements, deal with social security and medicare that are going otherwise we're going broke. they say don't cut my social security. don't cut my medicare. that is the issue here. >> arthel: brenda, as a business expert, would you if you were going into books and looking at those systems,
so what the debt ceiling is all about. basically congress has not done and congress and president has not done anything. i am not talking about anything. over the next 75 years, 70% of deficit spending is going to come from medicare programs alone, social security and medicare are the biggest part of the debt. the reason they are known as third rail of politics because if you touch them you are committing political suicide. george bush tried it and he was shut down. no lawmakers want to cut...
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increasing, it is not necessary to raise the debt ceiling. but only if the debt is not increasing. that's why we didn't have to raise the debt ceiling from 1997 to 2002. we have period like that. this isn't one of them. joining me now ezra klein and richard wolf. ezra, you "washington post" guys are very, very, very wealthy. i understand that. so i know. >> incredible. >> you are all fearing what the debt ceiling is going to do to your personal wealth. because even wizard of high finance like you cannot figure out a way to protect all of your wealth from what will happen if they don't raise the debt ceiling, right? >> that's why i bought a skrooge mcduck -- >> itch yf you can't figure a w hide from the impact of the crash that will happen itch the debt ceiling isn't raised, the koch brothers can't figure out a way either. they have too much money out there tin tin the world. for me, my hope resides in the koch brothers. the koch brothers are going to say to these guys, do you have any idea how many billions we could lose next week if you clow
increasing, it is not necessary to raise the debt ceiling. but only if the debt is not increasing. that's why we didn't have to raise the debt ceiling from 1997 to 2002. we have period like that. this isn't one of them. joining me now ezra klein and richard wolf. ezra, you "washington post" guys are very, very, very wealthy. i understand that. so i know. >> incredible. >> you are all fearing what the debt ceiling is going to do to your personal wealth. because even wizard...
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Jan 15, 2013
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senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we found we can't keep spending our kids inheritance, can't keep spending their money, we don't have it. >> greta: apparently he has threatened, i think his statement, at least people-- that in the event, congress doesn't authorize to raise that debt ceiling that he will do it unilaterally himself and he thinks he has the authority. do you >> absolutely not. under the 14th amendment of the constitution you can only do this as authorized by law and law is only created through the united states congress. so the president has absolutely no ground
senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to...
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allowing the united states to default on its debt by not raising the debt ceiling would be catastrophic to the global economy just playing with the idea back in two thousand and eleven led markets to tell bill and our national credit rating to be downgraded the republican hostage takers are undeterred and the cable news media is giving them cover by not calling out just how dangerous their brinksmanship is united states has long had a policy of not negotiating with terrorists today republicans are acting like economic terrorists and could do far more harm to our economy by defaulting on our debt than al qaida could ever have dreamed of. so why should they be negotiated with joining me now to answer that is neil mccabe senior reporter with human events online and editor of the guns and patriots column and welcome back to the top good to have you with us so you know if you would you know i guess one of the rules of hostage taking sure is you don't take a hostage unless you're willing to kill or at least kneecap the hostage if you know if your threat is it isn't serious so are the republic
allowing the united states to default on its debt by not raising the debt ceiling would be catastrophic to the global economy just playing with the idea back in two thousand and eleven led markets to tell bill and our national credit rating to be downgraded the republican hostage takers are undeterred and the cable news media is giving them cover by not calling out just how dangerous their brinksmanship is united states has long had a policy of not negotiating with terrorists today republicans...
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regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker and his aides are telling us that they really mean it this time. that there has to be a dollar of spending cuts for every dollar that the u.s. agrees to raise the debt limit. and that they would even go for a two or three-month extension as they try to work on a more global discussion of cutting spending. but even if there's an extension, it has to go point by point. the other thing i want to mention, suzanne, which i thought was really interesting, after covering the white house under george bush, that last question about the fac
regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker...
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i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their frustration 7 years ago, when the folk who is were urging this very action today voted against raising the debt ceiling when george bush was president? where was the great constitutional resolve? >> i don't disagree with ow this. there are politics on both sides. i don't think anyone thinks this is going to pass. let's be clear. but there is growing frustration about the way the republicans are using this to go around the normal committee process -- >> neil: what were they doing seven years ago? were they going around the republican president to get their way? >> no. at the end o
i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their...
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raise the debt ceiling? what's so hard? why do we need to negotiate? >> because you need to change the trajectory of the debt. >> the debt has changed trajectory -- >> yeah. you have to, like, what are you going to do to lower it, so you're just not automatically raising it. >> let me bring in keith ellison, co-chair of the progressive caucus, what's your reaction? >> i think that weaponizing the debt ceiling is bad economic policy, i think it's bad legislative policy, and i'm very sorry that this has happened. we can negotiate over the budget, we negotiate all the time. but to put something like the full faith and credit of the american economy on the line is just beyond pale. and americans show know. we're not asking about permission to spend future more, we're talking about permission to pay the bills we've already acquired. >> let me ask congressman cole about negotiation. everybody likes negotiation, we have a system of government that requires it in certain circumstances. there's a budget process in wh
raise the debt ceiling? what's so hard? why do we need to negotiate? >> because you need to change the trajectory of the debt. >> the debt has changed trajectory -- >> yeah. you have to, like, what are you going to do to lower it, so you're just not automatically raising it. >> let me bring in keith ellison, co-chair of the progressive caucus, what's your reaction? >> i think that weaponizing the debt ceiling is bad economic policy, i think it's bad legislative...
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Jan 19, 2013
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on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans in congress gave up. david corn "showdown," the stand off the president faced with republicans. david, thanks for being here. >> good evening, rachel. >> eric cantor says, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are a couple of things to think about here. i call this plan r for run away. but we know that john boehner often has had trouble with his various plans. plan b most notoriously, getting them approved, accepted and passed by his own house republicans. and cantor made a very declarative statement today. we're going to bring this to a vote, and when you do that, usually you think you have the votes, but immediately there were grumblings that some house republicans will go along with this i'm not sure that democrats will, too. so it remains to be
on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans in congress gave up. david corn "showdown," the stand off the president faced with republicans. david, thanks for being here. >> good evening, rachel. >> eric cantor says, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you...
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i think you cannot just raise the debt ceiling. >> okay. then you said -- >> a blank check. >> you said there should be something with it. the president doesn't dispute that. >> you're awe discussioning for ms nbc. you want chris matthews job. i can tell. you want to be chris matthews. you never shut up like chris matthews either. >> why do you have pat i sies o? you don't want someone who pushes you on your arguments. >> you want a job at msnbc. i got it. now i know why you came here. >> fox has lower standards. i would rather have a job on fox. >> ooh, ouch. want to talk about low standards? do you want to go there? >> wherever you want. i'm here for an interview. where are you looking? who's over there? >> there is a camera over there that i'm turning to. >> it's a theatrical thing. you look over as if you are exasperated. >> next on "hannity" -- >> raising the debt ceiling is a lousy name which is why members don't like to vote on it. it makes you vulnerable in political campaigns. it doesn't increase our debt . >> comments like those a
i think you cannot just raise the debt ceiling. >> okay. then you said -- >> a blank check. >> you said there should be something with it. the president doesn't dispute that. >> you're awe discussioning for ms nbc. you want chris matthews job. i can tell. you want to be chris matthews. you never shut up like chris matthews either. >> why do you have pat i sies o? you don't want someone who pushes you on your arguments. >> you want a job at msnbc. i got it....
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the piece they have is they are willing to not fund the government and not raise the debt ceiling in order to put us in a bad position to do that. i tell you, democrats cannot vote to cut entitlements if there are not tax increases attached to that. so i hope somebody somewhere wakes up to this reality before we default and stops insisting that somehow, miraculously in the next 12 days democrats are going to magically agreed to cut entitlements with no revenue and maybe do some big competition tax reform bill that cuts taxes even further. if that reality does not set in, we are in for several weeks of great calamity that is going to cause greater damage to what has been caused here. with that, i support the resolution and reserve the balance of my time. >> the gem from south carolina is recognized. -- mr. speaker, i want to again commend mr. smith. he has reached across to try to work together. inreferencing the shutdown 1995, there is a difference. it begins at the top. sadly, the president of the united dates, two weeks ago last said he was not going to negotiate. in the 1995 shutd
the piece they have is they are willing to not fund the government and not raise the debt ceiling in order to put us in a bad position to do that. i tell you, democrats cannot vote to cut entitlements if there are not tax increases attached to that. so i hope somebody somewhere wakes up to this reality before we default and stops insisting that somehow, miraculously in the next 12 days democrats are going to magically agreed to cut entitlements with no revenue and maybe do some big competition...